---
title: "Tencent Music Entertainment Group Class A (1698) Gets a Buy from CICC"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295993595.md"
description: "CICC maintained a Buy rating on Tencent Music Entertainment Group Class A (1698) on August 12, setting a price target of HK$55.50, while shares closed at HK$33.72. The stock holds a Moderate Buy consensus with an average target of HK$48.18, implying 42.88% upside. Additionally, Goldman Sachs maintained its Buy rating with a HK$46.00 target in a separate report released the same day."
datetime: "2026-08-15T05:06:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295993595.md)
  - [en](https://longbridge.com/en/news/295993595.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295993595.md)
generator: "portal-rs"
---

# Tencent Music Entertainment Group Class A (1698) Gets a Buy from CICC

CICC analyst maintained a Buy rating on Tencent Music Entertainment Group Class A on August 12 and set a price target of HK$55.50. The company’s shares closed yesterday at HK$33.72.

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Tencent Music Entertainment Group Class A has an analyst consensus of Moderate Buy, with a price target consensus of HK$48.18, which is a 42.88% upside from current levels. In a report released on August 12, Goldman Sachs also maintained a Buy rating on the stock with a HK$46.00 price target.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**